Yahoo Finance 7 Best Online Consignment Shops and Apps To Make Extra Money
When it comes to decluttering your home and getting rid of unwanted items, there’s a way to do so while simultaneously earning extra money. There are several online resale platforms, consignment shops and apps that allow you to sell your gently used items you no longer need that are only taking up space.
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Thanks to their convenience, expansive user base and effectiveness in moneymaking, these online consignment shops are considered the best and can help you make extra money.
ThredUp
Founded in 2009 by James Reinhart, ThredUp is an online consignment and thrift store. Not only is it known for emphasizing sustainability and reducing clothing waste, but ThredUp is also a great way for users to make money from selling their clothes.
It offers sellers the option to earn cash upfront or through consignment, and it will take care of the entire pricing and selling process. All you have to do as a seller is send your unwanted items to ThredUp, and it will do the rest.
ThredUp offers a simple way to sell clothing and accessories, and users are able to track earnings through the easy-to-use app.
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Poshmark
Poshmark is a unique online resale store. It stands out due to its social aspects, allowing sellers to engage with customers and fully utilize their sales potential.
“Poshmark’s unique feature of organizing ‘Posh Parties’ — virtual buying and selling events — can not only amplify your customer base, but also help to sell products quickly,” said Nick Drewe, founder and CEO of Wethrift.
With over 100 million users across Canada and the United States and over $6 billion earned by sellers on the platform, Poshmark is a great online consignment store to use if you want to sell your unwanted clothing and accessories on a more social resale platform.
eBay
The e-commerce platform eBay was founded in 1995 and has become a multinational online marketplace. With its worldwide landscape and a large variety of items — everything from collectibles to electronics to clothing — eBay offers sellers the chance to make extra money by reaching a global market. Similar to Poshmark, eBay allows you to sell your items directly.
It stands out among other online consignment stores due to its auctions, which make up the bulk of the sales. The company originally grew in popularity by promoting transparent, safe and accessible trading.
Decluttr
Decluttr is a great online resale platform for selling electronics and media items. Users can sell items such as old phones, tablets, CDs and DVDs, and the platform is renowned for the simplicity of its selling process.
With its instant valuation tool and free shipping, Decluttr ensures a quick and convenient way to earn money from unused electronics.
The RealReal
Originally formed in 2011, The RealReal is an online consignment store specifically catered toward selling luxury items. With the brand mission to extend the life cycle of luxury, The RealReal has a similar goal of sustainability to that of ThredUp.
The RealReal works with experts who evaluate the luxury items on the platform, ensuring professional authentication and maximized earnings on luxury goods.
Chairish
Voted as Newsweek’s “Best Online Shop” of 2021 and the winner of the USA Today Reader’s Choice Award for “Best Place to Shop Online for Furniture and Home Decor,” Chairish is an online resale store for buying and selling vintage and contemporary home goods and furniture.
Every item sold on Chairish is approved by a team of curators, and 85% of the inventory on Chairish is vintage. With 661,660 items sold, Chairish is a great way to make extra money by selling vintage and antique home decor.
Mercari
Japanese e-commerce company Mercari is a great resale platform to earn extra money, as it sells nearly every kind of item. And there are 350,000 new items listed on the site each day.
Additionally, back in March, Mercari announced that it would be getting rid of all selling fees. At a time when other resale stores are increasing their selling fees, Mercari eliminated its fees as part of its new business model, marking it as the first major U.S. marketplace to offer zero selling fees.
Tips for Maximizing Your Profits
In today’s fast-paced economy, more and more people are utilizing ways to declutter their homes and earn extra income while doing so. While selling unused items with online consignment shops and apps is extremely cost-effective and convenient, it’s important to make sure you’re doing so in a way that will ensure you make the most money you can from your sold items.
“These platforms turn your unused items into a cash-making opportunity, while also contributing to ecological sustainability by promoting the use of pre-loved goods,” Drewe said. “Therefore, while they provide an additional income stream, consumers must be strategic in terms of pricing, quality of pictures uploaded and timing of listings to yield maximum returns.”
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